Annual Report and Accounts 2013
Petra Diamonds Limited 113
Overview
Performance Review
Strategic Review
Sustainability
Corporate Governance
Group Accounts
12. Earnings per share
Total
Total
2013
2012
Numerator
US$
US$
Profit/(loss) for the year
32,008,858
(2,409,520)
Denominator
Shares
Shares
Weighted average number of ordinary shares used in basic EPS
As at 1 July
505,654,430
499,874,009
Effect of shares issued during the year
2,362,221
2,013,545
As at 30 June
508,016,651
501,887,554
Shares
Shares
Dilutive effect of potential ordinary shares
14,093,941
Weighted average number of ordinary shares in issue used in diluted EPS
522,110,592
501,887,554
US cents
US cents
Basic profit/(loss) per share – US$ cents
6.30
(0.48)
Diluted profit/(loss) per share – US$ cents
6.13
(0.48)
In the current year, the number of potentially dilutive ordinary shares, in respect of employee share options, Executive Director
and Senior Management share award schemes and warrants is 14,093,941. These potentially dilutive ordinary shares may have a
dilutive effect on future earnings per share. In the prior year, the impact of potentially dilutive ordinary shares of 14,411,634 was
anti-dilutive, therefore they were excluded for the prior year diluted earnings per share calculation. There have been no significant
post balance sheet changes to the number of options and warrants to impact the dilutive number of ordinary shares.
13. Adjusted earnings per share
In order to show earnings per share from operating activities on a consistent basis, an adjusted earnings per share is presented which
excludes certain items as set out below. It is emphasised that the adjusted earnings per share is a non-GAAP measure. The Petra
Board considers the adjusted earnings per share to better reflect the underlying performance of the Group. The Company’s definition
of adjusted earnings per share may not be comparable to other similarly titled measures reported by other companies.
2013
2012
Numerator
US$
US$
Profit/(loss) for the year
32,008,858
(2,409,520)
Adjustments:
Net unrealised foreign exchange loss (note 9)
4,670,690
38,604,888
Transaction costs (note 7)
536,248
3,070,563
Retrenchment costs (note 23)
2,603,377
Impairment charges (note 8)
12,560,534
Adjusted profit for the year
52,379,707
39,265,931
Denominator
Shares
Shares
Weighted average number of ordinary shares used in adjusted basic EPS
As at 1 July
505,654,430
499,874,009
Effect of shares issued during the year
2,362,221
2,013,545
As at end of year
508,016,651
501,887,554
Shares
Shares
Dilutive effect of potential ordinary shares
14,093,941
14,411,634
Weighted average number of ordinary shares in issue used in diluted adjusted
earnings per share
522,110,592
516,299,188
US cents
US cents
Adjusted basic profit per share – US$ cents
10.31
7.82
Adjusted diluted profit per share – US$ cents
10.03
7.61
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